{"id":15758,"date":"2019-07-22T12:47:26","date_gmt":"2019-07-22T12:47:26","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=15758"},"modified":"2019-07-22T12:47:28","modified_gmt":"2019-07-22T12:47:28","slug":"mortgage-rates-inch-up-2","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/mortgage-rates-inch-up-2\/","title":{"rendered":"Mortgage Rates Inch Up"},"content":{"rendered":"

Mortgage Rates Inch Up<\/h1>\n
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Mortgage Rates Inch Up<\/p><\/div>\n

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After three weeks of mostly staying steady, average mortgage rates rose this week. However, rates still remain at multiyear lows, keeping borrowing costs low for those shopping for homes this summer.<\/p>\n

\u201cThe rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short-term interest rates, which should provide support for business and investor sentiment,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cDespite this slight increase in rates, home buyers are taking advantage of the multiyear low rates in droves, which is evident in the consistently higher refinance and purchase application volumes. The improvement in housing demand should provide sufficient momentum for the housing market and economy during the rest of the year.\u201d<\/p>\n

Freddie Mac reported the following national averages with mortgage rates for the week ending July 18:<\/p>\n